A program refers to a group of related projects, work streams and tracks being executed in an organization to achieve a common business objective. Program management refers to management of the group of related projects in a synergistic manner to achieve a common business objective. In the current business environment, effective program management is an essential parameter in the success of any organization and therefore, the organizations have become increasingly interested in effective program management.
In the conventional program management systems the whole process of program management is tracked manually by a Program Management Office (PMO). Due to the manual process, many issues arise in the program management. Some of the issues may comprise like the goals defined at the program level do not flow down to the projects that are to be implemented in the project management system. The risks identified at the program level by the program managers are not visible to the project managers at the project level. Further, there is no visibility to the senior management and to the stakeholders, associated with the programs, regarding the program execution and the program manager's productivity. The PMO is also unable to track the critical paths across the tracks within the program effectively. Furthermore, the rollup information of the project metrics is absent at the program level.
The other limitations of the conventional program management systems include absence of a mechanism to enforce the processes defined by program management framework. The learning from management of a program also does not get captured for use in the new programs. Further, the conventional systems do not have a central repository to capture data across the programs being managed. Also, many of the existing program management systems are designed only to track and monitor the program as opposed to management of the program throughout its life cycle.
Thus, in light of the above, there is a need for a system and method that may facilitate an effective automated program management. Further, there is a need for a system and method that facilitates management of a program throughout its life cycle.